Which Formula Shows the Needs Based Method of Estimating the Amount

question 2

Multiple Choice

Which formula shows the needs based method of estimating the amount of life insurance needed?

• A) Life insurance needed = present value of future income
• B) Life insurance needed = burial + education - food - shelter
• C) Life insurance needed = income + social security - savings
• D) Life insurance needed = total needs - existing assets to meet the needs

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Definitions:

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is a categorization used in social policy to refer to individuals who qualify for certain types of government assistance due to their age, visual impairment, or disabilities.

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Supplemental Security Income is a United States government program that provides additional financial support to elderly, blind, or disabled individuals with limited income and resources.

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A health care program in the United States that provides medical assistance to individuals and families with low income and resources, jointly funded by the state and federal governments.

Personal Responsibility

The concept of individuals taking accountability for their actions and welfare.